SES AI (NYSE:SES) Sees Strong Trading Volume – Time to Buy?

SES AI Co. (NYSE:SES) shares saw an uptick in trading volume on Tuesday . 7,124,591 shares traded hands during mid-day trading, an increase of 120% from the previous session’s volume of 3,233,109 shares.The stock last traded at $2.10 and had previously closed at $2.42.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wolfe Research started coverage on SES AI in a research report on Thursday, September 5th. They set an “underperform” rating and a $1.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $1.50 price target on shares of SES AI in a report on Tuesday, September 10th.

SES AI Price Performance

The stock has a market cap of $789.68 million, a price-to-earnings ratio of -9.52 and a beta of 2.27. The firm’s fifty day moving average price is $0.58 and its two-hundred day moving average price is $0.85.

SES AI (NYSE:SES) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). During the same period last year, the business earned ($0.04) earnings per share. On average, equities research analysts anticipate that SES AI Co. will post -0.23 earnings per share for the current year.

Insider Activity at SES AI

In other news, major shareholder Sk Inc. sold 82,429 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $0.60, for a total value of $49,457.40. Following the completion of the sale, the insider now directly owns 40,601,438 shares of the company’s stock, valued at $24,360,862.80. This represents a 0.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder General Motors Holdings Llc sold 13,332,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $0.20, for a total value of $2,666,400.00. Following the completion of the transaction, the insider now owns 9,843,622 shares in the company, valued at $1,968,724.40. This represents a 57.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,866,910 shares of company stock valued at $3,663,346. 15.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On SES AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of SES AI by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,094,624 shares of the company’s stock valued at $1,980,000 after acquiring an additional 83,607 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in SES AI by 4.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,162,112 shares of the company’s stock valued at $744,000 after purchasing an additional 46,778 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in SES AI by 20.2% during the second quarter. Bank of New York Mellon Corp now owns 427,944 shares of the company’s stock valued at $535,000 after purchasing an additional 71,794 shares during the period. Squarepoint Ops LLC increased its position in SES AI by 1,039.9% in the second quarter. Squarepoint Ops LLC now owns 246,964 shares of the company’s stock worth $309,000 after buying an additional 225,299 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of SES AI by 204.1% in the third quarter. JPMorgan Chase & Co. now owns 182,977 shares of the company’s stock valued at $117,000 after buying an additional 122,803 shares during the period. Hedge funds and other institutional investors own 29.78% of the company’s stock.

SES AI Company Profile

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.